Productivity analysis – All businesses face ongoing challenges in improving productivity. For many mature economies, failing to improve productivity in a meaningful way is a significant challenge to the macro economy. And the same is true for many businesses in increasingly competitive markets with ever tighter margins.
ReThink help businesses improve productivity to release costs that can be directed to driving revenue – freeing up more time to spend with customers for example; and reducing the business cost base.
The first tool from our kit bag to measure and identify opportunities to improve productivity, reduce costs and improve profit is to undertake an Efficiency Study for a sample of your business.
An Efficiency Study is a specific type of time and motion workstudy technique that measures how and where time is spent in your business. Our workstudy experts do laps of your location, logging what activities team members are doing and where in the location they are and how many customers are present. Our experts also record the pace the team are working at; using a British Standard for performance rating; where 100 is “swift and business-like”.
From this data we undertake analysis that identifies opportunities to improve productivity including:
• What proportion of time is spent with customers, how much on your tasks and processes and what time is ineffective
• This can be benchmarked against similar businesses to immediately show opportunities to match the best in your and related industries
• We report on opportunities to improve performance effectiveness – when the pace of work is too slow and when the team are under pressure and the work quality can be affected
• By mapping team members versus customer flow we show opportunities to grow revenue by better matching your resources to customer demand
• Additionally, as process experts who have spent many hours studying a wide range of businesses, our work study experts note any opportunities for improvement they observe that would not be shown up in the data. This can include process variance, opportunities to remove, replace and streamline tasks and observations on driving sales and improving customer experience.
From these outputs we create a comprehensive report that identifies and puts a financial value to the opportunities for productivity improvement in your business.
Efficiency studies have been used by brands including Vodafone to improve productivity reduce costs and improve profit.
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